Europe Coal Loses to South Africa on Renewables: Energy Markets
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Germany’s biggest program of solar-and wind-power production has driven European coal prices below South Africa’s for the first time in 10 months.
Coal in northwest Europe cost $3.55 a metric ton less than supplies from South Africa’s Richards Bay yesterday, the widest discount for next-month prices since May 5, 2010, according to IHS McCloskey data. The difference is likely to keep increasing as European demand weakens and Asia boosts imports from South Africa, according to Barclays Plc.